Copyright is a right given by the law to creators of musical, artistic, literary and dramatic works and producers of cinematographic films and sound recordings. Copyright protects the expressions and not the ideas. So there is no copyright … [Read more...]

With the introduction of companies Act 2013, many new reporting requirements are made mandatory for statutory auditors. One of this requirement, under section 143(3)(i), is that the statutory auditor has to state in his report that whether the … [Read more...]

The world is going to be a village. So it’s time to standardize the business practices all over the world. Uniform Accounting standards & practices, all over the world is demand of the time. Indian accounting standards are also converged … [Read more...]

As discussed in the earlier article depreciation as per Companies Act 2013 can be calculated either by WDV method or SLM Method. Both the methods are old methods as provided by the companies Act 1956. A company can choose one of them. In the earlier … [Read more...]

As a common man, we often prepare cheque and mark it as account payee. Sometime we just cross it with parallel lines. Many of us don’t know the about the various types of crossing of cheque as per negotiable instrument Act, 1881. They are General … [Read more...]

As per companies act 2013, the depreciation is calculated on the basis of useful life of asset. Schedule II of companies act 2013, provides for useful life of depreciable assets which can be used to calculate depreciation based on WDV and SLM method. … [Read more...]

With the applicability of Companies Act, 2013, from Financial year 2014-15, the new Depreciation rates are applicable for all companies covered under companies Act, 2013. Now the depreciation is calculated on the basis of useful lives of the assets. … [Read more...]

SCHEDULE II
(See section 123)
USEFUL LIVES TO COMPUTE DEPRECIATION
PART ‘A’
Depreciation is the systematic allocation of the depreciable amount of an asset over its useful life. The depreciable amount of an asset is the cost of an asset or … [Read more...]

Are you planning to give loan to your directors, if so then please go through the provision of "Loan to the directors section 185". I have presented it here in detailed manner.
No company shall, directly or indirectly, advance any loan, … [Read more...]